Bitcoin Rise Due to Lower US Dollar?

[wiss19]

It doesn't apply to stocks because stocks are based on companies and if people buy a ton of that stock that cause it to go up, there is a reason why it could be overvalued, if a stock worths 1 dollars but people buy like crazy and stock becomes 2 dollars, that means people are overvaluing it, or let's say it worths 2 dollars per stock and people undervalue it and sell it mostly and price of it becomes 1 dollar, that means it is undervalued.

Bitcoin is not based on anything at all, it is only people buying and selling and nothing else, literally absolutely nothing else, no companies, no corporations, no nations no fiat, it is purely based on people buying and selling and that is it. Which is why they are not even similar to each other at all, there are vast differences.

[wxa7115]

Bitcoin falls/rises because of higher/lower "fiat" not just us dollar. I know that us dollar is actually what bitcoin is pegged on and there is really all the talks about how much bitcoin worths with dollar and we calculate the rises and falls like that.

However just because it is pegged to dollar when we are calculating or discussing doesn't mean that is the only thing it is affected by. When a third world country has a bad economy, the people there go into crypto as well to save their money too, that is really the only thing you can hope for and I believe there is really no reason to just think dollar is the only thing that affects it. So by all means us dollar do effect bitcoin but that doesn't mean that others do not, all fiats do end up effecting bitcoin and its price.

But so far those crises have hit countries that are not really that influential when it comes to the world economy and as such the price of bitcoin has a tendency to go higher in those countries because the supply of available bitcoin is very low, but it doesn't really have an effect on the global price of bitcoin.

For that we will need that one of the most powerful countries of the world suffers a massive crisis and that people migrate to bitcoin and quite honestly the only country in which I could see that scenario happening is in the United States, I say this because that is where there is a huge awareness about what is bitcoin, there are many investors there already and the government prints money as if there is no tomorrow.

[TheGreatPython]

Dollar will always lose value, that is what fiat currencies do, that is why we have bitcoin. To start off with dollar has always lost value in the most important regular stuff, your gallon of milk may not lost too much and it could be worth just a bit more than what it was 10 years ago, but check how much Harvard takes for studying there 10 years ago, 20 years ago and 30 years ago and you will see the difference, take a look at TV's and you will not see huge difference, even though technology is mind bogglingly better it is maybe x2 than what it was 10 years ago, or computers, yet check healthcare and you will see how it went up x10 just in the past 10 years, a cancer treatment could take up as much as half a million dollars.

So long story short, people increase your salary based on computer and milk and so forth and they ignore the college fee and health, they cherry pick.

[Botnake]

So long story short, people increase your salary based on computer and milk and so forth and they ignore the college fee and health, they cherry pick.

That's what most people didn't see, no wonder even if we have a good salary but it's still not enough to live a comfortable life. I experienced that, I strive so hard to work, got promoted and get a better salary but at the end of the day, I'm still in debt. They say we should learn how to minimize our expenses and increase savings, but for me, this is not the life I like, its not financial freedom, what I want to see is an affordable basic needs and healthcare benefits is one of these now.

So IMO, saving alone is not good, invest more and save less, and I'm investing on crypto since 5 years more or less already.

[wxa7115]

Dollar will always lose value, that is what fiat currencies do, that is why we have bitcoin. To start off with dollar has always lost value in the most important regular stuff, your gallon of milk may not lost too much and it could be worth just a bit more than what it was 10 years ago, but check how much Harvard takes for studying there 10 years ago, 20 years ago and 30 years ago and you will see the difference, take a look at TV's and you will not see huge difference, even though technology is mind bogglingly better it is maybe x2 than what it was 10 years ago, or computers, yet check healthcare and you will see how it went up x10 just in the past 10 years, a cancer treatment could take up as much as half a million dollars.

So long story short, people increase your salary based on computer and milk and so forth and they ignore the college fee and health, they cherry pick.

What you are describing is the incredible power of inflation, most people never realize it and they just complain about a recent price increase in one of the products they buy but when you being to look at the increases on the prices over a time span that includes decades you begin to see how powerful that tax really is.

A very simple experiment that people can run on their minds is to try to remember the cost of a product from your childhood and now go to your nearest store and see the price of the same product now, if you have lived long enough it will not be rare to see the price of the product has doubled or even tripled during that time and yet people do not see this and refuse to acknowledge the fiat system is unfair to them.

[STT]

Dollar could be seen in decline during July which I think helped the rise from those prices but since then dollar went sideways and BTC price has been positive to flat.   I think there is not much pressure from a higher dollar worth or boost from its move low so BTC for now is on its own.
  Momentum since the recent low has been quite solid, I relate this to the 50 day average now and how well we would pass this vs this shorter term 2 day momentum measure.


2 day average should fail as it only lasts day to day but more important for bullish action is keeping 10500 as a low and support vs price history resistance overhead.

[beerlover]

This could have been a thing back in the day of high peak pandemic time but right now the whole world is used to it. I get that US dollar is very valuable all around the world but let's be honest they are not as strong as they used to be and pandemic and devaluing dollar will not make as much noise as people think it will make.

This is why I highly suggest people to take a look at the Euro side of things as well, it is still strong, not as strong as it used to be before pandemic but recovered a lot better and even with that bitcoin still went up recently. Plus to think that dollar devaluing makes bitcoin go up, that has to be mean that dollar gained value when bitcoin dropped as well but nowhere in any recent time dollar gained value yet bitcoin did went down a lot.

[wxxyrqa]

This could have been a thing back in the day of high peak pandemic time but right now the whole world is used to it. I get that US dollar is very valuable all around the world but let's be honest they are not as strong as they used to be and pandemic and devaluing dollar will not make as much noise as people think it will make.

This is why I highly suggest people to take a look at the Euro side of things as well, it is still strong, not as strong as it used to be before pandemic but recovered a lot better and even with that bitcoin still went up recently. Plus to think that dollar devaluing makes bitcoin go up, that has to be mean that dollar gained value when bitcoin dropped as well but nowhere in any recent time dollar gained value yet bitcoin did went down a lot.

In fact, it is quite logical to bet on the euro, and not on the dollar, since the dollar depends on the US economy, and the euro depends on the entire European Union, where each country plays a very important role in this situation. But one must take into account the fact that the strength of the European Union has been falling lately, primarily for bureaucratic reasons. Moreover, on the world stage, some European countries are playing their own political game and are going in a different direction, which harms the entire European Union. Something like the fable of the Swan, Cancer and Pike. Perhaps it is in this situation that the European Union sees great potential in cryptocurrency and more actively allows it to be introduced into everyday life compared to the United States.

[usekevin]

Weakening of US dollar value is not contributing towards the bullish trend on bitcoin, it is just due to the people are moving to the assets from theor cash deposits and it is happening everywhere in the world.

Whenever the price of dollar was lower ,we can able to see some huge rise in bitcoin price. People start to buy bitcoin equivalent to dollar, when the price back to old one. They will convert their bitcoin to usd again ands get more profit from it. Patience is a needed one to do transaction like this, it won't back to old price in short period.

[STT]

Dollar has risen alongside BTC retraction but its not a larger amount as we have yet to regain the Dollar index pricing for July and prior.   So its more along the lines of speculative and profits being taken.   BTC itself is yet to really move past any special boundary, it could all just repeat till it moves more then this.



So lets say if DXY can maintain a position above 25.10 it may just keep climbing, extra weight added from strong dollar could have a proper effect towards BTC sellers.

[naikturun]

I think it is still too far to choose bitcoin as the main investment, gold is still preferable to bitcoin if that happens.
although bitcoin can avoid inflation and generate profits but its price is very volatile makes people still doubt it,gold still leads.

[Ridwan Fauzi]

I think it is still too far to choose bitcoin as the main investment, gold is still preferable to bitcoin if that happens.
although bitcoin can avoid inflation and generate profits but its price is very volatile makes people still doubt it,gold still leads.

Have you see the gold price movement? Yeah you must see it before you make the opinion.

Based on daily time frame the gold chart has passed the 23% fibbonaci retracement after its price slumped down.

At this situation, there is no good for gold or bitcoin because both of them have the same price movement.

Also, the DXY chart pattern seem like will form the head and shoulder pattern maybe there is an affect for bitcoin will decrease again.

[naikturun]

I think it is still too far to choose bitcoin as the main investment, gold is still preferable to bitcoin if that happens.
although bitcoin can avoid inflation and generate profits but its price is very volatile makes people still doubt it,gold still leads.

Have you see the gold price movement? Yeah you must see it before you make the opinion.

Based on daily time frame the gold chart has passed the 23% fibbonaci retracement after its price slumped down.

At this situation, there is no good for gold or bitcoin because both of them have the same price movement.

Also, the DXY chart pattern seem like will form the head and shoulder pattern maybe there is an affect for bitcoin will decrease again.

most people will choose what i say apart from higher liquidity, gold is more secure than bitcoin because bitcoin is still very volatile.
so if these two assets decline people will still side with gold.
i also love bitcoin but that can't deny the fact that gold is still more desirable than bitcoin.

[STT]

gold is still preferable to bitcoin if that happens.

I watch gold every day so right now it is suffering, its a long term asset not short term perfect protection and little people on the street will want something a little more liquid.   Its going to take a bit of skill to play gold and the spreads will kill most people jumping in and out of it.   Nothing wrong with mixing the two as they do different things and imo gold appreciates on a decade long stride.

So just observing dollar index today, its a slight fall but only within wednesday pricing which is minor.   I think we're probably more stable till monday even tuesday.
 

[naikturun]

gold is still preferable to bitcoin if that happens.

I watch gold every day so right now it is suffering, its a long term asset not short term perfect protection and little people on the street will want something a little more liquid.   Its going to take a bit of skill to play gold and the spreads will kill most people jumping in and out of it.   Nothing wrong with mixing the two as they do different things and imo gold appreciates on a decade long stride.

So just observing dollar index today, its a slight fall but only within wednesday pricing which is minor.   I think we're probably more stable till monday even tuesday.
 

Maybe you are right because it takes a lot longer to generate than bitcoin, I'm also sure some young people want things fast and don't like to wait too long.
so both have their own advantages and disadvantages.
I really like bitcoin even though in fact gold is superior.

[XCANA]

Whale manipulation will not be lost every time there is a surge of price in bitcoin based on the frequency and the consistency of spoof orders. We can't say that it was due to lower US dollar because the demand ans users of bitcoin comes from the whole world.

On the side of Bitcoin manipulation the market has been with it and will  continue with it. Basically the lower in the price if dollars the high the price of Bitcoin, though this has to be base on news. Basically OP analysis doesn't add up as he refused to compared both but in my opinion, Bitcoin rise is always tagged with news that are available at a particular time. Also, the purpose of Bitcoin existence was to Carter for inflation which the fiats has caused over the years.

[pixie85]

gold is still preferable to bitcoin if that happens.

I watch gold every day so right now it is suffering, its a long term asset not short term perfect protection and little people on the street will want something a little more liquid.   Its going to take a bit of skill to play gold and the spreads will kill most people jumping in and out of it.   Nothing wrong with mixing the two as they do different things and imo gold appreciates on a decade long stride.

So just observing dollar index today, its a slight fall but only within wednesday pricing which is minor.   I think we're probably more stable till monday even tuesday.
 

Gold is still suffering less than silver. People who bought it could have done worse.

The real winners are always those who sell gold or silver like Peter Schiff and make money on small margins. For this reason buying into gold hype when markets were hit by covid news was a bad idea despite all the schilling Peter did at that time.

I think that the biggest factor is not the price of USD but the S&P500. If stocks go up this year Bitcoin will follow.

[SquallLeonhart]

gold is still preferable to bitcoin if that happens.

I watch gold every day so right now it is suffering, its a long term asset not short term perfect protection and little people on the street will want something a little more liquid.   Its going to take a bit of skill to play gold and the spreads will kill most people jumping in and out of it.   Nothing wrong with mixing the two as they do different things and imo gold appreciates on a decade long stride.

So just observing dollar index today, its a slight fall but only within wednesday pricing which is minor.   I think we're probably more stable till monday even tuesday.
 

Gold is still suffering less than silver. People who bought it could have done worse.

The real winners are always those who sell gold or silver like Peter Schiff and make money on small margins. For this reason buying into gold hype when markets were hit by covid news was a bad idea despite all the schilling Peter did at that time.

I think that the biggest factor is not the price of USD but the S&P500. If stocks go up this year Bitcoin will follow.

Gold is not good because of short or quick profits, it is not actually even for profits, it is there because when one nation loses its fiats value, other nations are still giving around the same value to gold, it is a global thing, so that nation that had devaluation will suddenly have gold so much more high. It is not a worldwide investment to make forever, it is a prevention of losing your wealth.

If you have all your investments in gold, your nation can suddenly become like Venezuela but since you have gold, you can go to USA or wherever and sell all your gold and still would be rich, nobody can stop you from doing that. This is why people call bitcoin digital gold as well, your nation can be good or bad but bitcoin is global so your nations movements wouldn't affect it.

[worldofcoins]

Dollar will always lose value, that is what fiat currencies do, that is why we have bitcoin. To start off with dollar has always lost value in the most important regular stuff, your gallon of milk may not lost too much and it could be worth just a bit more than what it was 10 years ago, but check how much Harvard takes for studying there 10 years ago, 20 years ago and 30 years ago and you will see the difference, take a look at TV's and you will not see huge difference, even though technology is mind bogglingly better it is maybe x2 than what it was 10 years ago, or computers, yet check healthcare and you will see how it went up x10 just in the past 10 years, a cancer treatment could take up as much as half a million dollars.

So long story short, people increase your salary based on computer and milk and so forth and they ignore the college fee and health, they cherry pick.

There's no comparison of bitcoin with US dollars.
Bitcoin has their function and rules it won't deal with any other currency especially with US dollars.
It depends on the supply and demand, whenever people sell their coins in a panic the price of bitcoin falls.

[whyrqa]

Dollar will always lose value, that is what fiat currencies do, that is why we have bitcoin. To start off with dollar has always lost value in the most important regular stuff, your gallon of milk may not lost too much and it could be worth just a bit more than what it was 10 years ago, but check how much Harvard takes for studying there 10 years ago, 20 years ago and 30 years ago and you will see the difference, take a look at TV's and you will not see huge difference, even though technology is mind bogglingly better it is maybe x2 than what it was 10 years ago, or computers, yet check healthcare and you will see how it went up x10 just in the past 10 years, a cancer treatment could take up as much as half a million dollars.

So long story short, people increase your salary based on computer and milk and so forth and they ignore the college fee and health, they cherry pick.

There's no comparison of bitcoin with US dollars.
Bitcoin has their function and rules it won't deal with any other currency especially with US dollars.
It depends on the supply and demand, whenever people sell their coins in a panic the price of bitcoin falls.

I suppose that this is a different matter, because in reality Bitcoin is different from the dollar and does not need to be compared. But the fact is that the dollar is depreciating, because the American government prints a large amount of paper money and therefore the best asset for investment, as well as for the future storage of their savings, people will and are already buying Bitcoin. Of course, today the dollar exchange rate has stabilized and even showed small growth rates, but nevertheless, since the dollar is an international currency, according to statistics, paper dollar funds are not enough to provide the special countries of Asia and Africa, and we have to turn on the printing presses again. In addition, the pandemic forces to minimize losses in economic terms by increasing the money supply and another indicator that the dollar has already lost its unreliability.